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    HomeBusinessDay trading guide for June 09: Intraday supports, resistances for Nifty50 stocks

    Day trading guide for June 09: Intraday supports, resistances for Nifty50 stocks

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    Day trading guide

    Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

    Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS and SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

    ₹1367 • HDFC Bank

    S1

    S2

    R1

    R2

    COMMENT

    1350

    1320

    1380

    1420

    Near-term view is negative. Go short if the stock falls below 1350. Keep the stop-loss at 1365.

    ₹1500 • Infosys

    S1

    S2

    R1

    R2

    COMMENT

    1495

    1470

    1530

    1555

    Trading across a horizontal trend and lacks direction. Refrain from trading this stock.

    ₹268 • ITC

    S1

    S2

    R1

    R2

    COMMENT

    264

    260

    272

    277

    Near-term outlook is positive. Go long if the stock rebounds from the support at 264.

    ₹163 • ONGC

    S1

    S2

    R1

    R2

    COMMENT

    155

    150

    164

    169

    Rally might be capped at the current level. Short with stop-loss at 170.

    ₹2724 • Reliance Ind.

    S1

    S2

    R1

    R2

    COMMENT

    2670

    2630

    2785

    2850

    Initiate fresh short positions if price falls below 2700. Stop-loss can be at 2760.

    ₹471 • SBI

    S1

    S2

    R1

    R2

    COMMENT

    460

    450

    476

    485

    Strong resistance ahead at 476. Short if the stock moves up to 476 with stop-loss at 485.

    ₹3404 • TCS

    S1

    S2

    R1

    R2

    COMMENT

    3350

    3315

    3420

    3460

    Outlook is bearish. Initiate fresh short positions now and at 3450 with a stop-loss at 3520.

    16355 • Nifty 50 Futures

    S1

    S2

    R1

    R2

    COMMENT

    16350

    16225

    16440

    16500

    Trend is bearish. Short now and on a rally to 16440 with stop-loss 16500.

    S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

    Published on June 09, 2022

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